Home' Ships and Shipping : August 2009 Contents focus on the MIDDLE EAST
Topaz Energy and Marine, through its
subsidiary BUE Kazakhstan, recently
secured a US$100 million contract with
Agip KCO in Kazakhstan.
Under the contract, Topaz will
custom-build, own and operate six
specialised barges over a ten-year period to
support Agip's development program in the
Kashagan field in the Northern Caspian.
The award means Topaz will further solidify
its already leading market position in the
Caspian. Topaz has successfully worked in
Kazakhstan for more than ten years.
Topaz CEO, Fazel A. Fazelbhoy,
commented on the award; "Topaz is
privileged to be part of the growth of
Kazakhstan's oil and gas sector and we look
forward to continuing to develop our
relationship with Agip KCO and the
NCOC. This ten-year contract is aligned
with Topaz's focus on longer-term
contracts providing stable cash-flows and
investor returns over a number of years.
With the support of our strong ties with
international financial institutions, Topaz's
growth path continues to look healthy
even in these recessionary times."
The six ice-class barges will be deployed
in 2010 and are three cutting, one
liquid-mud and two flat-top barges. Each is
specialised to handle icy conditions and the
units are all low-draught when fully loaded.
These features are essential to operating in
the shallow waters and harsh weather
conditions of the Kashagan field.
The Kashagan oilfield is one of the
largest hydrocarbon discoveries in the last
four decades with estimated recoverable
reserves of more than ten billion barrels.
The field is expected to eventually double
Kazakhstan's output to approximately three
million barrels per day.
Roy Donaldson, COO of Topaz Marine,
said in a statement; "The confidence that
Agip has shown in Topaz is a reflection
of our long-term commitment to
the Caspian and our ability to deliver
in these times of global financial turmoil.
Topaz has made substantial investments
in vessel and infrastructure expansions
in support of Agip's development
program and we will continue to expand
in the region."
The contract award is in addition to
another recent Caspian win of US$225
million with BP. Under that contract,
Topaz will operate three vessels in support
of BP's program in Azerbaijan over the
next ten years.
Topaz is a wholly owned subsidiary of
Renaissance Services SAOG, a publicly
traded company on the Muscat Securities
Market. Operating throughout the Middle
East and the Caspian with vessel operations
in North Africa and S.E. Asia, Topaz
employs over 6,000 people.
For further information contact:
Topaz Energy and Marine, United Arab
Emirates. Web: www.topazworld.com
Topaz secures US$100 million Agip contract
Fazel A. Fazelbhoy, CEO of Topaz Energy
Drydocks World-Dubai, the region's
premier ship repair, conversion and new
building yard and a subsidiary of
Drydocks World, has installed a trial
version of a Grounding Avoidance
System on the 46,803-tonne oil tanker,
'British Tenacity' for BP Shipping. The
installation of such a system on a sea
vessel is an industry first.
Personnel from Drydocks World-Dubai
worked for twelve days to modify 'British
Tenacity's' bow and fabricate the
structures required to accommodate the
system's transducers and a new navigation
display system on the vessel. Drydocks
World-Dubai's advanced fabrication
workshop, one of the largest of its kind in
the region, used approximately eleven
tonnes of Grade A steel to fabricate the
refurbished bow area.
The Grounding Avoidance System,
developed by Marine Electronics in
conjunction with BP Shipping, is a
three-dimensional, forward-looking sonar
system that helps identify obstacles
anywhere in the water column up to a
range of one kilometre.
Nawal Saigal, Managing Director,
Drydocks World-Dubai, said: "This is a
proud moment for us. The cooperation
with BP Shipping in installing the
advanced Grounding Avoidance System
was a unique opportunity for Drydocks
World-Dubai to prove its capability in
handling complex and sophisticated
This technology -- which is being trialed
-- was installed on the vessel, with the
project completed ahead of the
Nor-Shipping 2009 international ship
building exhibition and maritime
conference in June where Drydocks World
showcased its services across the Middle
East and Southeast Asia regions.
The completion of this technical
operation marked a new milestone in
Drydocks World-Dubai's growth graph
and has reaffirmed the yard's capability
to undertake and execute challenging
maritime engineering assignments
The project with BP Shipping follows
a high-profile project for Norway-based
Aker Solutions. Drydocks World-Dubai
completed the fabrication of two giant
16,000-tonne semi-submersible rig hulls for
Aker in 2007-08, delivering both 120-metre
long drilling rig hulls within eight months
of each other.
For further information contact:
Drydocks World-Dubai, UAE.
Drydocks World-Dubai installs Advanced Grounding Avoidance System on BP Shipping vessel
SHIPS AND SHIPPING August 2009 33
Links Archive July 2009 September 2009 Navigation Previous Page Next Page